This document explains how you report and update the results from cyclic, periodic and zero-point physical inventories.
You take inventory to make sure that the recorded item quantities are correct.
The results from physical inventory have been reported. Depending on your choice, you have either recorded new on-hand balances or simply printed a variance list.
For information on the uses of physical inventory, refer to the related process document Taking Physical Inventory.
Report physical inventory results
Start 'Physical Inventory. Report' (MMS301/B) via option 12='Physical inventory result' from the (MMS300/B) panel.
Select the on-hand balance that you want to compare to the inventoried one. To do this, display the (MMS301/P) panel by pressing function key F13 on the (MMS301/B) panel. On the P panel, you can preset the date to use during the on-hand balance check as well as the 'Balance to compare' for the F panel (where reporting is done). Click Next.
The valid alternatives for the 'On-hand balance to compare' field are:
1 = On-hand balance of the balance identity when marked/requested for inventory
2 = Current on-hand balance of the balance identity
3 = On-hand balance of the balance identity during date reported for inventory.
Usually alternative 3 is the most convenient one to use.
To report a line, double-click the line on the (MMS301/B) panel. The (MMS301/E) panel will be displayed.
Enter the inventoried quantity in the 'Physical inventory quantity' field. Click Next.
Repeat step 4 until there are no more lines to report. If remaining lines still exist, use F20='Report as zero' to report 0 on all remaining, unreported lines. Click Exit.
The (MMS300/B) panel is displayed.
After reporting, the inventory status is set to 50='Feedback of inventory result started'.
Update Physical Inventory and Print Variance List
Display the (MMS300/H) panel by selecting option 13=Physical inventory variances on the (MMS300/B) panel.
Check the Status field to see whether a physical inventory difference has been approved automatically or whether it has to be approved manually.
The valid alternatives for the Status field are:
1 = Physical inventory reporting has been done; the difference is within allowed values and has therefore been approved automatically.
2 = Physical inventory reporting has been done; the difference is not within the allowed range and has therefore been approved manually.
The limits for the variances are determined by the settings in 'Settings. Physical Inventory Variances' (CRS717).
If the inventory difference has not been approved automatically and you want the difference to be approved manually, specify 2 in the Status field. Click Next.
Determine the price that should be used for inventory valuation in the 'Inventory accounting method' field.
The valid alternatives are:
0 = Current price
1 = Standard price.
Activate the Update field for updating the on-hand balance with the physical inventory variances, and to create transactions for the stock transaction history.
The status will be raised to 70='Update of physical inventory has been made'; nothing remains to be reported.
If the 'Update' field is left blank, the variance list will be printed without an update. In this case, an evaluation of the variances can be made for a costing type of your choice. In addition, a recount of the inventory for the same inventory number is performed
The status will be raised to 60='Difference list is printed'.